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December Nymex natural gas closed down 3.29% on Friday after EIA data showed a 61 bcf storage injection for the week ended November 6, above the five-year average of 40 bcf. Forecasts for warmer US weather for November 18-22 added to the selling pressure.
A larger storage build and warmer outlook point to weaker US natural gas prices, which lowers energy costs for processors and fertilizer producers.
After 62 past bearish report events, Natural Gas moved a median -3.0% over 5 sessions (42% higher; middle half -7.6% to +4.6%), and -0.5% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.